London Residential are proud to announce their new online auction service. Register your details and be the first to know about all our new auction properties. Register here
Step-1Search for your property
Once you know what you want, visit our auction website and search through all our available auction properties. Our auction tab can be found through our website or by visiting www.underthehammer.com
Step-2Arrange a Viewing
Once you have found a suitable property, we can assist you with finding out as much information about the property as possible. However viewing the property is critical. To do this, contact us to arrange a suitable time to view the property or check the dates for open house / Block viewings
Step-3Register an Account
Before being able to place a bid, you must first register an account via our auction tab on our website or at www.underthehammer.com. You can do this either online or by visiting us in branch. This will allow you to view all documents associated and will give you the ability to be kept updated with any bids
Step-4Legal Pack & Terms of Sale
Once you have registered and your account is active you will be able to download and view the legal pack . This has been compiled by the seller's solicitor and generally contains copies of the Title Deeds, Special Conditions of Sale, Land Registry Search, Leases (if applicable) and other appropriate documents. These are available to download via the property details page on our website. It is important that you inspect the paperwork before placing a bid and view the terms of sale associated with the property.
Step-5Placing a bid
Before placing a bid on a property, you must first complete the Anti Money Laundering check in your ‘account area’. The check is instant and once your Anti Money Laundering check is complete you’ll be ready to bid. If you want to bid on a property you can do so online or by visiting us in branch. To bid, enter your bid amount, and ‘confirm’ to submit your bid in real time. Remember the reservation fee is in addition to your bid so take this in to account when bidding.
If you are the winning bidder, you will be required to pay the reservation fee immediately after the end of auction via Debit Card. Any successful bidder, at the end of the auction will be bound to purchase the property and will have 56 days within which to exchange and complete the sale. If you fail to do so, you may lose your reservation fee. During the 56 day reservation period, the seller is not able to accept other offers. At this point, the sale will become legally binding.
Step-7Conveyancing & Processing Sale
Once the property is reserved, you will have 72 hours to instruct a solicitor to act on your behalf. Your sale will be dealt with by our sales progression team who will keep all parties up to date with progress of the sale. During this period we advise you act swiftly and liaise with your conveyancer to ensure deadlines for completion are met.
It’s the day the final funds are transferred and the day you get the keys to start moving into your new home. You can arrange to pick your new keys, directly from us in branch on your way past with the removals van.